Sean Mcnealy Sells 38,333 Shares of Abacus Global Management (NYSE:ABX) Stock

Abacus Global Management, Inc. (NYSE:ABX) major shareholder Sean Mcnealy sold 38,333 shares of Abacus Global Management stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $10.31, for a total transaction of $395,213.23. Following the completion of the transaction, the insider owned 12,610,606 shares in the company, valued at $130,015,347.86. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Abacus Global Management Trading Down 3.0%

Abacus Global Management stock traded down $0.32 on Wednesday, reaching $10.54. 457,798 shares of the stock were exchanged, compared to its average volume of 604,528. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.91 and a current ratio of 1.91. Abacus Global Management, Inc. has a twelve month low of $5.00 and a twelve month high of $12.44. The company’s fifty day moving average is $10.15. The firm has a market cap of $1.01 billion, a PE ratio of 27.02 and a beta of 0.07.

Analyst Ratings Changes

Several research firms recently weighed in on ABX. Weiss Ratings reissued a “hold (c)” rating on shares of Abacus Global Management in a research report on Thursday, June 11th. Wall Street Zen lowered Abacus Global Management from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Texas Capital raised Abacus Global Management to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Piper Sandler upped their price target on Abacus Global Management from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.00.

Institutional Investors Weigh In On Abacus Global Management

A number of institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new position in Abacus Global Management during the fourth quarter valued at about $17,554,000. Mendon Capital Advisors Corp bought a new stake in shares of Abacus Global Management in the 4th quarter worth approximately $17,207,000. Royce & Associates LP bought a new stake in shares of Abacus Global Management in the 4th quarter worth approximately $16,992,000. Goldman Sachs Group Inc. acquired a new stake in shares of Abacus Global Management during the 4th quarter worth approximately $10,409,000. Finally, Alta Fundamental Advisers LLC acquired a new stake in shares of Abacus Global Management during the 4th quarter worth approximately $9,385,000.

Abacus Global Management Company Profile

Abacus Life, Inc operates as an alternative asset manager specializing in life insurance products. It purchases life insurance policies from consumers seeking liquidity and manages policies over time via trading, holding, and/or servicing. The company was founded in 2004 and is based in Orlando, Florida.